Time for a Financial Plan Tune-Up

No matter where you are in life, your financial plan – like your favorite automobile – requires regular maintenance to keep you on track for financial success. And since June is the halfway point of every year, it’s a great time to review your plan and make any necessary changes.

Here are a few key things to consider:

• Do your designated beneficiaries need to change due to the birth of a child, adoption or divorce?
• Has there been a marital change in your assets and/or income?
• Are you expecting a significant promotion or job change?
• Are there large expenses coming up, such as a wedding or college tuition, that weren’t initially part of your plan?
• Have your retirement lifestyle plans – travel, volunteering, part-time work or something completely new – changed?

While this is just a snapshot of what to think about when giving your financial plan a check-up, it offers a great place to start. Everyone has personal goals for their finances and a vision of their retirement, and often these goals and circumstances change. That’s why it’s essential that your financial plan is not only designed around what’s most important to you, but also adjusted as life happens.

Any opinions are those of Nicole Middendorf and not necessarily those of Raymond James.